§ Mr. Simon Coombs
asked the Chancellor of the Exchequer if he will make a statement on the effect on the arts of tax incentives for individuals and companies introduced in the Finance Act 1986.
§ Mr. Norman Lamont
The tax incentives which the Government introduced last year to encourage personal and corporate donations to charities were widely and warmly welcomed. Inland Revenue records do not distinguish between different types of charities, but arts charities can benefit in the same way as other charities. It is too soon to judge the full effect of the 1986 measures, but the early signs are encouraging. I hope donors and charities will take full advantage of the opportunities which the Government have provided to increase the flow of funds into charities.